New York Stock Exchange (NYSE) officials are touting trading of the PIMCO Active Bond Exchange-Traded Fund (ETF) as the first ETF to list on the NYSE in 15 years.
The PIMCO Active Bond also serves as the first-ever active ETF to be listed on the Big Board.
“We are excited to welcome the PIMCO Active Bond Exchange-Traded Fund to the New York Stock Exchange, making history as the first active ETF to ever list on the NYSE floor,” NYSE Head of Exchange Traded Products Douglas Yones. “The NYSE is thrilled to be able to bring ETFs to our iconic trading floor, where they can leverage a unique trading model that combines industry-leading technology and human judgment as well as the greater visibility inherent in an NYSE listing.”
The action enables the PIMCO Active Bond Exchange-Traded Fund to take advantage of the NYSE’s floor-based trading model combining technology with accountability and human judgment to improve market quality and investor trading outcomes.
“This year’s dramatic rise in yields makes bonds more attractive for patient investors looking for returns in a volatile environment,”
PIMCO Managing Director and Portfolio Manager David Braun said. “We believe actively-managed core bond strategies like BOND can play an important role as an income generator and a diversifier within portfolios, especially during an economic slowdown.”
The NYSE’s ability to list ETFs on NYSE and NYSE Arca exchanges provides issuers with a broader set of tools to reach global investors.